How much do the Bears pay to rent Soldier Field?

The Bears do have a lease at Soldier Field, where they pay over $6 million a year in rent. However, the lease ends after the 2033 season and can be broken at a cost of $84 million as soon as 2027.

What do Chicago Bears pay to lease Soldier Field?

The Bears pay $6.48 million annually to use Soldier Field, under the terms of a lease set to expire in 2033 that can be terminated early as long as the team pays a penalty.

Do the Bears rent Soldier Field?

The short answer -- yes. The Bears and the Chicago Park District have a lease that runs through 2033. But, they can break that lease as soon as 2026 at the cost of $84 million. This is a small cost to building a new stadium.

How much is Soldier Field rent?

Event Pricing

Rental Fee: $5,000 - Rental includes Colonnades for up to 10 hours, basic security of 4 guards for up to 4 hours, cleaning and Event Manager.

How will the Bears pay for a new stadium?

The stadium costs $2 billion and $750 million will be paid through bonds over 30 years. Allegiant Stadium represents the largest sum of public money ever used for a stadium project in the United States.

The End of Soldier Field: How Chicago Lost the Bears

How much revenue do Bears bring to Chicago?

The Bears bring home $520 million per year, meaning the franchise is likely missing out on an estimated $60-70 million annually by not owning their stadium, a loss of approximately $600-700 million in future earnings over ten years.

What happens to Soldier Field if Bears leave?

The Bears' lease with Soldier Field in Chicago runs through 2033 and the team plans to honor it. If the team builds a new enclosed stadium in Arlington Heights, it wouldn't play regular-season games there until 2034.

How much would it cost to buy Soldier Field?

Soldier Field could get a more than $2 billion upgrade, including a dome, if the NFL's Bears can be convinced to stay in the city — or if Chicago lands another football team, Mayor Lori Lightfoot said.

Who owns Soldier Field in Chicago?

Owned by the Chicago Park District, Soldier Field is managed by ASM Global, the global leader in venue management.

Who pays for Soldier Field?

On September 29, 2003, the Bears played their first game at the renovated Soldier Field, in which they were defeated by the Green Bay Packers 23–38. The total funding for the renovation cost $632 million - taxpayers were responsible for $432 million while the Chicago Bears and the NFL contributed $200 million.

Why do the Bears want to leave Soldier Field?

A new stadium would fully guarantee the profits to the organization. More on the economic standpoint, the Bears do not own the restaurants/businesses around Soldier Field. In Arlington Heights, the team has ample land to build around a stadium like other NFL teams have to create a lucrative cash cow.

How much does a suite at Soldier Field cost?

How much do suites at Soldier Field cost? The price of Soldier Field suites is determined by matchup and location in the stadium. Private suites are available for all home games and events with pricing starting at $21,000 and may cost as much as $40,000.

What is Fields contract with the Bears?

Justin Fields signed a 4 year, $18,871,957 contract with the Chicago Bears, including a $11,085,060 signing bonus, $18,871,957 guaranteed, and an average annual salary of $4,717,989.

Is Soldier Field privately owned?

The Chicago Park District has owned Soldier Field since its construction, and even though the Bears have called it home since 1971, Soldier Field remains park district property.

Can the Chicago Bears break their lease?

The Bears currently have a lease at Soldier Field through the 2033 season and the team would have to pay the city of Chicago to break that lease, but the price would be a nominal sum compared to the nearly $200 million they paid to simply purchase the Arlington Park property.

How much does Chicago still owe on Soldier Field?

The Illinois Sports Facilities Authority, which handles Soldier Field's debt, says the stadium's 2003 renovations still haven't been paid off and the city owes more than $631 million by 2032.

Did Kanye house build Soldier Field?

Ye's childhood Chicago home was bought by his mother Donda West in the early 1980s and sold in 2004. Ye decided to buy the house back last year for $225,000 USD and is now recreating it at soldier stadium for a true homecoming.

Do the Bears want to leave Chicago?

The Chicago Bears signed a purchase agreement for Arlington International Racecourse in September 2021, a move that takes the team a step closer toward securing property for a new stadium and leaving their longtime home at Soldier Field.

Who owns Chicago Bears?

Born on Jan. 5, 1923, Virginia Halas McCaskey has served as principal owner of the Chicago Bears since 1983, when she inherited the franchise from her Hall of Fame father, George "Papa Bear" Halas.

Will the Chicago Bears leave Chicago?

The family has entered into an agreement to buy the Arlington International Racecourse for $197.2 million but the sale wouldn't close until some time in 2023. It certainly seems as though the Bears are going to move, but there's still a long way to go before the farewell tour in Chicago begins.

What is the cheapest football team to buy?

NFL teams on average are worth $4.14 billion, 18 percent more than last year, with the cheapest team the Cincinnati Bengals at $2.84 billion, a new valuation study from Sportico reports.

Who owns 20% of the Bears?

The other ~20% is jointly owned by Andrew McKenna Sr. (former director and chairman of McDonald's) and Patrick Ryan (founder of consulting firm Aon—formerly based in Chicago—that sponsored Manchester United until 2014 and had its New York offices in the WTC in September '01).

Are the Chicago Bears profitable?

The operating income of the Chicago Bears, a franchise of the National Football League, fluctuated between 2001 and 2021. In the 2021 season, the operating income of the Chicago Bears amounted to 156 million U.S. dollars, up from making a loss of 3.6 million U.S. dollars in the previous season.

What is the most valuable NFL team?